ARS Investment Partners LLC reduced its position in Targa Resources Corp. (NYSE:TRGP – Free Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,163 shares of the pipeline company’s stock after selling 3,835 shares during the quarter. ARS Investment Partners LLC’s holdings in Targa Resources were worth $10,918,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Blair William & Co. IL increased its holdings in Targa Resources by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 16,248 shares of the pipeline company’s stock valued at $2,092,000 after purchasing an additional 638 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Targa Resources by 99.0% during the second quarter. Intech Investment Management LLC now owns 20,665 shares of the pipeline company’s stock worth $2,661,000 after purchasing an additional 10,280 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Targa Resources by 145.6% during the second quarter. Canada Pension Plan Investment Board now owns 128,200 shares of the pipeline company’s stock valued at $16,510,000 after purchasing an additional 76,000 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Targa Resources by 21.0% in the second quarter. Sei Investments Co. now owns 186,322 shares of the pipeline company’s stock valued at $23,995,000 after purchasing an additional 32,323 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Targa Resources by 2.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 9,337 shares of the pipeline company’s stock worth $1,202,000 after purchasing an additional 245 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.
Targa Resources Stock Up 1.4 %
NYSE:TRGP opened at $216.00 on Tuesday. Targa Resources Corp. has a 1 year low of $81.03 and a 1 year high of $217.02. The stock has a 50-day moving average price of $191.56 and a two-hundred day moving average price of $163.93. The stock has a market cap of $47.10 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 0.64 and a beta of 2.30. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.
Targa Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.39%. Targa Resources’s payout ratio is 54.25%.
Insider Activity at Targa Resources
In other news, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now owns 82,979 shares of the company’s stock, valued at $15,793,393.07. The trade was a 26.55 % decrease in their position. The disclosure for this sale can be found here. 1.44% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Barclays increased their price objective on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. UBS Group lifted their price objective on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley boosted their price objective on Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group boosted their price target on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $189.21.
Get Our Latest Report on Targa Resources
Targa Resources Profile
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.
Read More
- Five stocks we like better than Targa Resources
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Tech Titans in Chips: 3 Semiconductor Stocks Worth Buying Now
- Compound Interest and Why It Matters When Investing
- Why SoundHound AI’s Setback Could Be a Buying Opportunity
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- 3 Stocks to Gain From Donald Trump’s External Revenue Service
Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.